Stupid idea?

[Tayne]

.

[The Moog]

Cheers for all the advice. Some excellent points

 

The inital idea would be for my missus to get a job in Edinburgh and carry on working (Earns £60k+) and me and 2 mates to get it all up and running (the chef and outdoor blokey). To start with we would maybe close some of the rooms (as I am sure they arent all full) and concetnrate on making the open ones better. servicing 10 rooms versus 27 will be easier so that customer service will improve. Money we know will be tight to say tthe least so everythign will be done on a shoe string.

 

They have got a self catering chalet which I think needs pushing. Another on they just use for storage and the owners accomodation is a 4 bed bungalow. We would live in a room rather than the accomodation and use that as a self catering cottage or something. Either that or turn it into a suite so that you can book a wedding and that is where you stay on your wedding night. Lots of ideas as you can see:)

 

As we are moving to Oz we literally have no stuff. We arent materialistic at all so that isnt an issue. Chef wise I think that we would have a vision together but he would run the kitchen. He has a massive amount of expeerince and would be stupid of me to decide anything!

His wife runs 42 supermarkets in scotland so contacts is pretty easy for wholesalers.

 

The USP for the hotel is the fact of the location. It runs down to the sea. Would be interesting to see if putting a slipway in and doing dolphin watching is a viable opportunity. I think that putting on specialist weekends such as Wildlife photography or other events that can incoporate the scenery

 

Oz is a difficult one as her visa runs out in march next year. If we dont go then it will be difficult to ever go and live there in the near future.

 

Once again thanks for all the advice, makes me think massively ..

[Mr Lobster]

Its not a stupid idea at all, hell its something a lot of people would love to do.

 

Depends how you do it though. If you are borrowing all or most of the purchase price then the amount you repay will masiively eat into whatever you have left to develop the business and survive on. And if you've no money to live on or do what you want with it, it will all end in tears.

 

We looked at something similar a few years back and just couldn't make it add up. You already know it'll be very hard work and I don't doubt that it could possibly become a nice, profitable business but I'd think it will take small fortune and a good few years to get there.

[M'coli]

I visited Skye during the summer and accommodation in Kyleakin was a struggle to find.

Was it heaving with Australians/New Zealanders on the Haggis Backpackers tours?

[Guest Leonard Hatred]

Skye's actually a part of the Inner Hebrides, but I guess Trotternish is so far out it almost counts.

[Lankytim]

Hey if you buy it me ill go up with the Mrs and Minime. Ill drive up some dross. too.

 

Full English pls.

[boobydoo]

My sister and her husband both jacked their jobs in last year (she worked in the library at Bath University and he was a property developer) and bought a 8 bedroom hotel in the Lake District.

 

http://www.thelangstrath.com/

 

No experience at all. They put every single penny they had into it so it has to work.

I don't think they realised what bloody hard work it is.. up at 6am every day and working til gone 11 at night. They actually close from November to February because trade in winter is non-existant.

They employ a chef for the restaurant and a couple of East europeans to help with cleaning and bar work. Thats it until they know for sure they can make a go of it.

I cant imagine what staff you'd need for 27 rooms...thats a BIG place!!

 

I say seriously consider it...I know a couple of people who moved to Aus and they feel terribly homesick, calling it 'culturally barren'.

[Gompo]

Any developments on this? Quite interesting..

 

How long has it been for sale? Seems like a long time, unless it's been bought and for sale again within a year or so.

 

There's also something online saying it was refurbished in 2006/2007. Is that true, was it just a filler and rattle-can effort or the real deal?

 

I have zero experience and not much more to offer than what's already been said, just interested.

[hennabm]

Hey if you buy it me ill go up with the Mrs and Minime. Ill drive up some dross. too.

 

Full English pls.

Be carful where you ask for a "full English".

[The Moog]

Really just trying to look at finance for the venture. Missus works for a bank so she is talking to a few people to see whether it is realistic. Spoke to the estate agents and they have had the property since March.

 

Looks like it has been on the market for a while. To see the books we have to have an official vist.

 

So plan is to see about finance and then go visit if it is viable. Really going to give ourselves a few months (say until Nov) until we give it up for dead. If it is a No then we are off to Oz

[Justin Case]

It looks as if with a place that size you will not only be biting off more than you can chew, but would find it difficult to get out if it all goes tits up (it looks as if the present owners are)

 

Go ahead by all means, but try a smaller place that you can run yourselves with minimal staff (10-12 bedrooms?) and either rent or take a short lease, so it is easier to cut your losses. The potential profit is less, but if you take to it then it will be easier to move up to something bigger and more lucrative.

 

On the other hand, if I were in your position, I would just buy it, turn it into holiday flats and let them out.

[The Moog]

I think that the idea of closing some of the bedrooms to start with is a good idea. Maybe run it as a 10 - 12 bedroom place. It will probably still turnover more than they currently do

[Cavcraft]

If you do go ahead I reckon you'd do well to advertise in classic car mag's etc. Maybe have a small outbuilding as a garage for parking and perhaps keep some basic tools in there so they can do minor repairs? Just thinking if you offered that service you should get a bit of interest from various car clubs.

 

You could even offer owner's clubs meets at a discount including accomodation and this would (hopefully) attract lots of one make clubs etc to tootle on up, as well as holding a classic car show once or twice a year. Get a few trophies and all that, won't cost much and might be an incentive to attract people up there.

A few pictures of the place with some old cars outside might do for a brochure and you'd get plenty of advertising out of it. I'm pretty sure you could count on a few of us to bosch links up in our signatures on various forums too.

[M'coli]

/\/\/\ Classic Malts tour: http://www.heroevents.eu/Events/Scottis ... alts_2010/

[The Moog]

That is a superb idea. Not sure I could invite you lot up as the salt air might finish a few of the allegro's off!

[M'coli]

An "old car" tie-up with the independently run Glenelg-Kylerea ferry could be an idea too - evoking the days of old when you couldn't take the bridge. [nostalgia]I still have a Kyle-Kyleakin timetable from 1994 kicking about somewhere[/nostalgia]

[The Moog]

Well have booked the flights and we are going back to have a proper look at it next weekend. Will take loads of pictures and don the really cynical hat.

 

GF has talked of nothing but hotels for the last 2 weeks !

[Cavcraft]

Nice one, keep us posted. Are you taking an independant third pair of eyes to cast an eye over the place and potentially stop you getting carried away?

[FredTransit]

I bet it's got loads of outside space you can fill with old tat. You could do a sideline selling shite. How many times have people said about cars 'if only it was nearer'? Just a thought.....

[The Moog]

Yes taking the MIL and she used to run a pub years ago so knows the trade. Also I am prepared to be mr cynical and walk away if it isnt right.

 

As for tat.. hmmm now that is something to think about .. .

[The Moog]

Went to see the hotel at the weekend. My god it is a state. But it is most cosmetic!

 

So many things wrong with the place that if fixed could easily become money makers. We have spoken to the Business Network people up there who have been fantastic. We are speaking to a Business Manager at RBS tomorrow to see what kind of dosh is involved.

 

Got some pics and more details will throw up later.

[Cavcraft]

Look forward to it Moog. What sort of things need fixing up? I say buy it, offer a weekends accomodation free of charge and get some Shiters to come up with paintbrushes and wheelbrarrows etc!

[michiel]

962 miles from here by road... sounds like it would make a great holiday, I'd love to go to Skye.

[Mr Lobster]

Interesting, I'll be interested to see the pictures as well as its the sort of thing that appeals to me too.

[jaycey001]

Im in the process/very early stages of starting up a rather risky venture , However you ether go for it and learn from any mistakes or dont do it and in 10 years from now wonder what might have been!

How much would you be needing to borrow? with regards to bussness loans you Will be able to get 58% maby 60% of the total price, the rest you will have to find!

make sure a solicitor looks over all contracts, is it lease or free hold?

make sure the business in only in one of your names not both, that way you arent both black listed if things dont work out.

 

I would love to live in a place like that, and there are always ways of making a living from it.

Have you thought about opening up as a specialist hotel for people with disabilitys? they are very thin on the ground and it may be possible to get garenteed income from social services, there are always familys looking for somewhere to take the family that is safe and set up for there needs.

 

just a thought

 

cheers

 

james.

[The Moog]

RIght some photos first

 

Sunrise at the hotel

Sunrise over the beach that the hotel owns

The castle

It has 9 acres of land

The Road in

Outside is tatty

Overlooking the bay

Outside needs work

The Dinning Room

[Cavcraft]

All you need is a biscuit tin with a rat and a lend of Mr Sceptre's Maxi and you've cracked it.

[fotorabia]

writing from the highlands..and using the classic car-dolphin watch idea as positive reinforcement..id say go for it..and forget Aussie...its a sub tropical shit hole..extraordinay landscape but full of rascist tossers..im an Aussie..i should know..good luck...it all depends on your attitude as well..remember the highlanders are a tight knit outfit...

[Claypole]

That outside area is wasted as it is now, especially with that view.

 

 

Autoshite coach trip with a tin of emulsion and some brushes.

[Guest Leonard Hatred]

writing from the highlands..and using the classic car-dolphin watch idea as positive reinforcement..id say go for it..and forget Aussie...its a sub tropical shit hole..extraordinay landscape but full of rascist tossers..im an Aussie..i should know..good luck...it all depends on your attitude as well..remember the highlanders are a tight knit outfit...

 

The Highlands is full of 'white settlers' now anyway.